International Media Nodes S8 Proposal

Grants/Funding Season 8 Proposals
1

Title: International Media Nodes S8 proposal
Project Champion: @Jengajojo
Squad: IMN Team: minahasnoidea, raybankless + 13 node champions
Purpose: Public good
Affiliation: Translation Guild
Funds requested: 1,950,000 BANK
Project wallet(s): Mainnet: 0x09cA8B48A2b4d468daC43806751e2e3a1Fc08A31

Own subDAO/Discord server: https://discord.gg/P35pr5WHw2

PROJECT TEASER

The IMN projects creates [written and AV] bankless content in 15 different languages. On average the content generates 20,000+ views each month.

SUMMARY:

Project Description

The IMN project has two components

  1. International Media Nodes: (Max Budget: 2,230,000 BANK)

    1. Nodes are paid for fulfilling specific predefined KPIs
    2. Node produce AV and/or written content.
    3. Node produce translated and/or original content

  2. The IMN team (Budget: 320,000 BANK)

    a. delivers basic services such as coordination between nodes, stats check, accounting and payments

    b. ideates and executes growth strategies as well as stewards the project within the bDAO.

Past/preparatory activities

S7 hghlights

  • Tested new node incentivization strategies which resulted in an average of 33% relative growth in views
  • The average monthly views grew from 15K/month to 20K/month
  • Treasury kickback: ETH(link) and DAI(link) kickbacks to bDAO treasury from the grants we received
  • We raised 55K USD for earthquake victims in Turkey
  • Started IMNwide AV content discussion. Here is a prototype video [link]

You can find detailed stats on content produced, audiences, views and payments for each node here

What is a node?

A node is an attempt at spinning up a virtual bankless community in another language. The node achieves this by producing content of several types. By producing content, nodes educate audiences in new language markets about the bankless movement and nudges them to go bankless

RETROSPECTIVE

The project has conducted several retros in the past all leading to the same outcome which is that we need to increase views in order to attract sponsors

FINANCIAL IMPLICATIONS

Nodes are awarded BANK for fulfilling certain KPIs and conditions each month.

  • KPI 1 [Startup funding]

    In the beginning, each node will have to set up a social media page, post at least 5 posts about the Bankless mission/crypto as well as a substack page with a post explaining the Bankless mission and vision. Each node should have at least 2 people working in the node (This is mainly a requirement for the translation since we need one translator and 1 reviewer) and the channel should have at least 50 audience members.

    Each node that fulfills the above requirements for KPI1 will receive a grant of 10000 BANK to continue with their activities of growing the channel for the next month.

  • KPI 2 [Translated Content]

    3,000 BANK is awarded for each podcast or YouTube video (An educational video minimum 5 min long) that the node publishes and shares on social media.-AND/OR-

    A node is awarded 2000 BANK each for every newsletter that is translated or produced and distributed to the local community via substack/medium and social media. The node can decide the details of the newsletters from the following criteria:

    • Any one of the bDAO newsletter.
    • Own newsletter which could be a mashup of bDAO/HQ newsletter. In order for the newsletter to qualify for funding, it needs to consist of at least 1000 words.
    • Any HQ/bDAO/bankless publishing article that is translated and distributed to the local community via substack/medium and social media

    The max cap for each month, for each node is 12000 BANK in this category

    KPI 3 [Original Content]

    5000 BANK will be awarded to each node that produces original written or AV content. Newsletters must be atleast 750 words and AV content must be atleast 5 mins in length.

    The max cap for each month, for each node is 15000 BANK in this category

    KPI 4 [Promotion]

    a) 10,000 BANK per node if IMN views average of that month was reached

    b) <10,000 BANK based on shortcoming to reach IMN views average

    c) nodes that reached KPI 1 less than 6 months ago receive 5,000 BANK irrespective of their views - the remaining 5,000 BANK will be distributed based on their shortcoming percentage

Additional Terms:

  1. Champions must submit following node data at the end of the month to be remunerated for the month.

    a. Social Media Followers
    b. Newsletter Views
    c. Youtube Views
    d. Podcast Listeners/Views
    e. Content produced (incl. links)

  • A deadline for fulfilling any KPI is measured on the metrics achieved by a node between the first of the month and the last day of the month.
  • Champions will be given 1 week to fill the data for their node by the stats team
  • Nodes which have not submitted data by the date specified by the stats team will not receive compensation for that month. The final implementation will be decided between the champions on a weekly meeting
  • The IMN project awards its participants every month (as opposed to a seasonal model) hence, any BANK that is left unawarded, will be used as bridge funding between seasons or will be ported over to the next season to award nodes which fulfill KPIs.
  • All payments are made at the beginning of the month after which KPIs were achieved. All KPIs, except KPI1 are reset at the beginning of the month.
  • Nodes which do not produce translated content, are eligible to receive max cap stated in KPI2 at the same content rate as KPI 3
  • Any left over BANK from each month is used to award bonuses to nodes which have been active for 3 months in a row. Each node gets max. 10% BANK bonus on top of the monthly compensation for being active that month

The Definition of an Active node is

  • The node champion is an L1 member
  • The node posts 1 piece of content (either newsletter or youtube video) each week

Project Breakdown

Budget for Nodes [2,230,000 BANK]

KPI 1: 10000 BANK
KPI 2 budget = 12,000 x 15 active nodes = 180,000/month x 4 = 720,000 BANK
KPI 3: 15,000 x 15 active nodes = 225,000/month x 4 = 900,000 BANK
KPI 4: 10000 x 15 nodes = 150,000/month x 4 = 600,000 BANK

Compensation Breakdown

IMN team [ 320,000 BANK ]
Roles and Descriptions

IMN coordinator: @Jengajojo (20000 BANK/month) x 4 = 80,000 BANK
OPs Coordinator @MinaHasNoIdea (20000 BANK/month) x 4 = 80,000 BANK
Finance Manager @raybankless.eth (15000 BANK/month) x 4 = 60,000 BANK
Language Champion (funded by KPIs)

Bounties & Misc:

There is 100,000 BANK allocated for adhoc work such as taking meeting nodes, investigating KPIs that nodes have fulfilled, folks who helped write grants or worked with the marketing squad, etc…

S8 Budget = 2,230,000 + 320,000 = 2,550,000 BANK

[s7 left over] 600,000

Total ask for S8: 1,950,000 BANK

SEASONAL KPI

Factor KPI Success Metric
content # number of content uploaded on YT or substack 90/month
views # average BANK/view 22/month

BRANDING

Each node uses the bankless brand and is stewarded by the node champion. Each node champion is required to be a L1 member in order to qualify for rewards.

COMMITMENTS

The IMN project will pay the bDAO treasury 10% of any revenue that is generated by grants, sponsorships, or partnerships. Revenue that nodes manage to create apart from that will instead be used to grow the respective nodes.

FURTHER PROJECT CHANNELS

Poll

Approve this proposal for S8?

  • Yes
  • No

0 voters

1 Like
2

Awesome work IMN. You are fulfilling the DAO’s mission :100:

3 Likes
3

I voted yes.

What is the max the guilds ask for with GC? Just curious

4

it’s about 1.25 million BANK for guilds in S8, but as a project, the ask here can be unlimited.

5

Okay. Thank you. I think I’m about 2 seasons behind on this particular topic

6

Let’s go for another marvelous achievement :smiley:

1 Like
7

Always support IMN! Language barrier is one of the biggest challenge in web3 onboarding.

A quick question, what were the $600,000 BANK spillover from S7? Can we reduce the allocation there and put it to use in other IMN KPIs? (i don’t mean reducing the overall budget, just reallocation within the different KPI/initiatives)

2 Likes
8

Thank you for the feedback. The rollover comes from the fact that not all nodes fulfill all KPIs. We have tried to reallocate leftover funded to various initiatives such as Node incentives and AV content as highlighted in this proposal. We are open to other suggestions on how this spillover could be reallocated

2 Likes
9

thanks for support
yeah, language barrier is a challenge for users, and if we want to embark 1 billion people English is not enough

hopefully we will reach that billion point sometime in the future

1 Like
10

@Jengajojo does international refer to every nation? Are there US nodes?

11

The intention is to be agnostic to political boundaries and create content based on language. I believe BanklessHQ can be considered a US ‘node’ not under the IMN project

2 Likes